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Coronavirus Impact To Bakersfield Real Estate Market Trends

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Bakersfield Single Family Real Estate Market

Looking at the Bakersfield real estate market trends on single family, we are seeing a lot of trends that are happening across the world right now, however, to some extent it does seem to look like the market is not being hit as hard as many people would have thought.  There are many different opinions on how this has happened and if we still have yet to see the worst but to date we are seeing some pretty significant changes since the COVID 19 virus has started.

Bakersfield Properties for Sale

Looking at Bakersfield properties for sale, we see that there were approximately 758 properties for sale in April, and moving into May that number was cut down to 635, a decrease of approximately 16%.  This is to be expected given the widespread job losses and furloughs going on in the employment environment.  People are wanting to stay in their properties for now and are looking at possibly waiting this out before selling. 

Late May General Real Estate Market Update

Bakersfield Properties Sold

Again, looking at April, Bakersfield had 359 single family homes sold, and by May that number had dropped to 283.  This represents a change of about 21%.  Again, to be expected given the second month of quarantine and the volatility being high in the markets right now is keeping a lot of people saving their money instead of trying to spend and extend themselves.  This seems to be pretty normal as well.  

Current State Of The Bakersfield Housing Market

Bakersfield Properties Pending

This number is actually a little bit surprising.  Between April and May we saw an increase of almost 86% of pending inventory.  This means that people had started to get back into the market, and that people felt comfortable enough in the future to believe that they could purchase properties and homes without risk of loss.  This is a good sign for Bakersfield Real Estate, and even the larger market on the whole if the trend is continued outside of our market.  

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Synergy Real Estate & Property Management
Sunny Advani
Personal Lic # 01869864
Office Lic # 02012941

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About The Author
Sanjeev Advani

• Hundreds of Investment Real Estate transactions successfully closed • 350+ Units currently under Property Management • 3+ Years of Construction Management Experience • Certified Property Manager, CCIM (In Progress) • Bachelors in Finance • Bakersfield, CA Native Deep Dive: I have been licensed in real estate for almost 10 years, and I have been specializing in investment and commercial real estate for the past 6 years. Through the years I have worked with Real Estate Developers, Investors, Average Joes, and many more. I am a Bakersfield native, and my educational background is in Finance. I have just completed the CPM (Certified Property Manager) certification which is one of the most prestigious designations in the Property Management Industry, with less than 1800 members world wide. I am also the President of the Board for Habitat for Humanity Golden Empire, the Vice President of the Board for Income Property Association of Kern County (IPAK), and Vice Chair of the Commercial Investment committee at the Board of Realtors. I look forward to working with you towards your real estate investment goals. Sunny Advani California Agent Lic# 01869863 | California Broker Lic# 02012941 Email: Sunny@RE-Synergy.com | Phone: +1 661 235 5726